Do Cartier Watches Hold Value?

While value might not be a priority for everyone, it certainly adds to the appeal of buying a coveted Cartier watch. We always caution to buy what you love because you love it, and not as an investment, but all other things being equal, we think it’s better to fall in love with a watch that holds its value, rather than one that depreciates immediately.

Historically, Cartier watches tend to hold their value long-term. However, several factors determine exactly how well timepieces from the legendary Maison hold their value or even appreciate, including demand, materials used, and current fashion trends.

Let’s break down everything you need to know about the value of Cartier watches before investing your hard-earned money in your dream watch.

If you’re looking to sell your Cartier watch, check out our comprehensive guide on how to sell your luxury watch. After after that, you can read Cartier-specific tips in our guide on how to sell your Cartier watch.

Drivers of Value: Demand, Current Fashion Trends, and Provenance

Cartier is legendary, with a portfolio dating back over a century. Like much of the luxury watch industry, the brand has been growing in popularity recently as collectors from all walks of life seek recognizable watches with enduring style. Stainless steel sports watches have been dominating the market for several years. However, dress watches are making a comeback, which is excellent news for Cartier’s value. What’s also interesting about the demand for Cartier watches is that the company has significant influence in the jewelry and watchmaking industries, something competitors like Rolex and Omega can’t match.

Cartier’s inception dates to the mid-1800s. In fact, many of the flagship models within Cartier’s portfolio boast decades of production, transcending many fashion and price trends and creating considerable demand for investment-savvy collectors. For example, the Cartier Santos watch, developed in 1904, was one of the world’s first men’s wristwatches. The iconic Tank also boasts an impressive production run that officially began in 1919. Both models are still widely sought-after today by modern collectors.

The Cartier empire boasts provenance, enduring style, and customer loyalty, all of which can equal lasting value if the conditions are right.

How to Determine a Cartier Watch’s Value

The best way to figure out how much a Cartier watch is worth is to do your research. Browse the secondary market (including reputable platforms such as Luxury Bazaar) to determine how much comparable timepieces are reselling for. Another excellent source is Watch Charts, a vast catalog of watch stats that tracks the price history of many of the industry’s top brands. Aside from price, other factors can determine a Cartier watch’s value, including:

• The condition of the watch: watches in pristine condition are often more valuable.
• If the watch comes with the original box and papers: the warranty card and even the original sales receipt can add to a Cartier watch’s collectability.
• If the watch still has all its original parts: original parts are often replaced during servicing, which can impact its value on the secondary market.
• If the watch has been serviced: servicing a Cartier watch can either add to or decrease its value.
• Materials used: some materials are more valuable than others depending on market trends.
• How old is the watch? Rare vintage watches, such as the gold Tank, can fetch a premium on the used Cartier market.
• The watch model and sub-model: rare or limited edition Cartier watches have the potential to hold their value better than other models.

Retail vs. Pre-Owned Cartier Watches

Often, retail Cartier watches depreciate immediately after they are purchased, much like buying a brand-new car. While that rule doesn’t necessarily apply to every Cartier watch, it is something to consider when determining value. Pre-owned watches tend to hold better value because the original owner has absorbed the initial loss. The question remains: how much value was lost, and is it a significant depreciation?

For example, the lacquered dial Cartier Tank Must ref. WSTA0072 (one of the most sought-after entry-level Cartier watches on the grey market right now) retails for $3,450 as of 2024. Secondhand, the same watch sells for about $3,090, which equals approximately 10% loss in value. For some collectors, it is worth it to forgoe the $360 savings for the peace of mind that comes with buying a brand-new watch at retail, while others might find significant value in that 10% margin.

On the other hand, the yellow gold large model Santos de Cartier ref. WGSA0029 retails for $36,600 and trades hands for $26,855 used according to Watch Charts, equalling nearly a 30% loss in value. Although made from valuable gold, it isn’t as widely sought-after because of its higher price point and is arguably less practical and versatile than stainless steel watches. In this situation, the Santos de Cartier did not retain its initial value, and it would be difficult to estimate when it would ever be worth its original retail price again, if at all. However, it is an excellent investment for the secondary owner, in which case buying pre-owned would be the best way to maximize your investment.

Rarity and Supply

Rare watches, such as vintage models, have the potential to hold their value well, primarily due to low inventory on the grey market. Conversely, vintage watches aren’t necessarily always rare either. Depending on the actual model, they can be relatively easy to find pre-owned across all price points. It is possible to invest in a vintage Tank Must for under $2,000. On the other end of the spectrum, the vintage Cartier Tank, once owned by Jacqueline Kennedy Onassis, recently sold at auction for $379,500.

Furthermore, modern watches that are still in production can also be rare. For example, the La Panthère de Cartier watch, glittering in diamonds currently retails for $268,000. It is rare to see one of these models on the pre-owned market because of its lavish design set and smaller customer base.

Cartier 2023 Sales Statistics

According to Morgan Stanley’s Swiss watch round-up in 2023, the Cartier is ranked #2 in the top ten Swiss watch brands, second only to Rolex. In 2023, the Maison sold 660,000 units, compared to Rolex with 1,240,000 units, Omega with 570,000 units, and Tissot with 3,100,000 units—Cartier’s sales total CHF 3.1 billion, coming in second to Rolex’s staggering CHF 10.1 billion.

Do Cartier Watches Hold Their Value Like Rolex?

Cartier watches don’t hold their value like Rolex, depending on the model. Demand coupled with limited supply, even on the retail level, has created massive pre-owned value for some of the most popular watches in the Rolex portfolio, causing major disparities in some Rolex retail vs market prices. Stainless steel sports models, such as the Rolex Daytona, often resell for double their retail price. Even their entry-level dress watch collection, the Oyster Perpetual, is reselling on the secondary market for double retail for variations featuring popular or discontinued dial colors, such as the Tiffany Blue model.

Even though watches produced by Cartier tend to hold their value long-term, and some rare models like the Cartier Crash watch have the potential to triple in value, they don’t reach the same astronomical price appreciations that Rolex watches consistently do. Still, one could argue that Cartier watches are worth the investment because they hold their value relatively well.

Which Cartier is the Smartest Buy?

Tank: The Cartier Tank watch is one of the brand’s most recognizable collections, with over 100 years of production and an endless list of famous owners. Some of the most well-known are Diana, Princess of Wales, Muhammad Ali, and Jacqueline Kennedy Onassis. The broader Tank collection also houses several sub-models, including the affordable Tank Must.

Related content: How Much Does A Cartier Tank Cost?

Historically, the Tank Must has been positioned as an entry-level collection, with the most affordable models priced as low as $3,300 at authorized dealers. The collection holds its value well, often trading hands for around the same price on the pre-owned market, if not slightly less. Vintage models in excellent condition have even greater investment potential, with prices under $2,000.

Santos de Cartier: According to the brand, the Santos de Cartier was the first “modern wristwatch.” It was developed in the early 1900s for pilot Alberto Santos-Dumont, who needed a more convenient way to keep time while flying than traditional pocket watches. And the Santos de Cartier was born. Gold model watches tend to depreciate significantly after they are purchased at retail and are often considered a smart buy on the secondary market.

Cartier is in a class all its own, featuring uniquely shaped cases and other distinctive design elements that continue to influence watch fashion. Together with the company’s long-standing reputation on the market and exceptional craftsmanship, Cartier is a watch brand with lasting value.

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